Shops sold on 30-year lease will return to HDB after expiry: MND

Shops sold by the Housing and Development Board on a 30-year-old lease will be returned to the lessor – the HDB – upon the expiry of the lease, National Development Minister Lawrence Wong reiterated in Parliament on Tuesday (Mar 1).

Where possible, and if in line with future planning intentions, HDB can consider allowing these shopowners to rent the shops after the lease expires, he added.

In response to a question from MP Cheryl Chan (Fengshan SMC), 50 per cent of Housing and Development Board (HDB) town and neighbourhood centres have benefited from the Revitalisation of Shops (ROS) scheme to date, Mr Wong said.

He said the scheme has been designed specifically for HDB shops to help enhance their vibrancy and improve their competitiveness. Local Merchants’ Associations have the opportunity to lead and drive the revitalisation of their respective shop clusters with funding support from the Town Council and HDB, he added.

The Ministry of National Development are reviewing the ROS scheme with the aim of encouraging more retailers to upgrade their shops and business operations. “The outcome of the review will be announced in due course,” Mr Wong said.

He added that HDB has other programmes to rejuvenate older towns and estates, like the Remaking our Heartland programme, which provides enhancements for the entire town.

Source : Channel NewsAsia – 1 Mar 2016

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